RBI frees banks from IBA shackles on service charge
The Reserve Bank of India (RBI) has directed the Indian Banks' Association (IBA) to do away with the existing practice of fixing the benchmark services charges for the banking industry with immediate effect leaving it to the individual banks.

Corporates, banks invest in ICICI issue
The Rs 275-crore equity issue of ICICI Ltd sailed through as corporates, banks and domestic and foreign funds picked up a large chunk of the issue against the backdrop of a lukewarm response from the retail investors.

TotalFina, Elf agree to $48.7 billion merger
Abruptly ending their acrimonious two-month takeover battle, TotalFina SA and Elf Aquitaine SA surprised markets Monday by announcing they had agreed to a friendly merger that turns the combined concerns into the world's fourth-largest oil company.

CORPORATE
IFC to fund corporate restructuring
MUL raises prices of five Zen, Maruti-800 variants

ECONOMY
Fertiliser industry pitches for oil supply at discounted rate
HDFC chief Deepak Parkeh calls for merger of apex industry associations

EXPRESSIONS
Cynical mandarins
Divest or privatise

MARKETS
Pentafour Software targets $60 million through ADRs
Sensex sheds 29 points on profit-booking, poll blues

LEISURE
Virgin mulls foray into film, classical music
Sony bags telecast rights for Amercia Cricket Cup